First home super saver scheme

Use your super account to save a deposit for your first home.

For first home buyers

Build your super and use it to take that important first step onto the property ladder.

What is it?

The First home super saver scheme is a government initiative designed to help improve housing affordability for first home buyers. Because of the special tax treatment super gets, you can use your super account to save for your first home deposit faster.

How does it work?

You can save your deposit by making voluntary contributions to super. You can apply to access up to $15,000 of your voluntary before-tax or after-tax contributions from any one financial year, and up to $50,000 in totalacross all financial years. You can only access voluntary contributions made into your account since 1 July 2017.

When you're ready to buy, you can withdraw these contributions, plus any earnings on them.

Your contribution amounts need to be within your contribution caps.

Are you eligible?

To be eligible, you need to be a first home buyer who:

  • lives in the premises you're buying or intends to as soon as practicable and
  • intends to live in the property for at least six months within the first 12 months you own it (after it's practical to move in).

Ready to buy?

Well done! You've saved hard and you're ready to buy your first place.

To withdraw the money from your super account, you'll need to apply to the ATO.

For details, visit the ATO website.

The $50,000 limit on contributions applies to requests for First home super saver determinations made from 1 July 2022. If the First home super saver determination was made before 1 July 2022, the limit is $30,000.

File icon

Want to know more?

Read the First home super saver scheme fact sheet.

Related resources